Vencor Inc. said Wednesday it offered to acquire Transitional Hospitals Corp. for $639 million, topping an investment group’s earlier bid.
Vencor, based in Louisville, and Transitional Hospitals, based in Las Vegas, own long-term, acute-care hospitals and nursing homes. Their facilities also cater to patients with complicated medical problems who are not in hospitals, but are too sick to be in nursing homes.
Vencor said the combined company would have 57 hospitals and 314 skilled nursing centers nationwide.
On Friday, Transitional Hospitals said it had agreed to be acquired for $564.5 million by Select Medical Corp., a closely held company based in Mechanicsburg, Pa.
But after signing the agreement, Transitional Hospitals said it received a letter that same night from a “major health-care provider” prepared to pay more.
Transitional Hospitals’ agreement with Select calls for payment of a $19.4 million fee to break the sale agreement.
